Loan to Buy Scott's Lawnservice Franchise Issued By Chemical Bank

Borrowing money to buy a Scott's Lawnservice franchise? Chemical Bank has a history of making these loans and they are guaranteed by the SBA.

Want to borrow money to buy a Scott's Lawnservice franchise? If so, here's a 2003 SBA franchise loan that you should know about. Chemical Bank was the lender and the entrepreneur was based in Hastings, Michigan.

SBA Loan Borrower

S&P ENTERPRISE AND SCOTT'S LAW
HASTINGS, MI 49058

SBA Loan Lender

CHEMICAL BANK
823 RIVERVIEW DR
BENTON HARBOR, MI 49022

This loan was a SBA 7A loan, which means it originated at a lending institution and the SBA provide a guaranty on a portion or percentage of the loan.

SBA Loan Program Type

This loan was issued as a general business loan.

NAICS Code

561730 - Landscaping Services

Loan Approval Date

4/29/2003

Loan Approval Gross Amount

$265,000

Loan Approval from the SBA

Of the total $265,000 loan amount, the SBA guaranteed $198,750.

More Information on This SBA Loan

The borrower borrowed this money for an existing business. This loan was used to buy a Scott's Lawnservice franchise. At the time of the loan, the company had 6 employees. The SBA loan documents did not indicate that the company promised to use the money to hire new employees or retain any existing employees.

Next Steps for Getting an SBA Loan

If you are wondering how to raise money for a business in Hastings MI, you ought to talk with a local Hastings SBA lender or talk with an out-of-area SBA lender that has previously loaned money to Hastings businesses.

Your solution for where to find money to start a business may be an SBA guaranteed loan. This company recognized that the SBA offers great programs for new and growing businesses. Now it's your turn. Talk to a banker to start the process.

About This SBA Loan Information:

All SBA loan data displayed above comes from the government's publicly available SBA loan database. Information on this page is provided by the Gaebler.com news organization to inform business owners, aspiring entrepreneurs and others about SBA loan activity. LoanCensus.com does not assist businesses with obtaining SBA loans and was not involved in any way with this transaction. For additional information, see our Loan Information FAQ.

Related Links:

Scotts Lawn Service

Strategic Investors

SBA 7A Banks in Benton Harbor, Michigan

Getting an SBA Loan in Michigan